- Avery Dennison label and packaging material has introduced AT2550 adhesive technology.
- This fully recyclable adhesive technology will be an ideal solution for thermal paper labeling.
- North America will spearhead the market over the forecast period.
The global thermal paper market is predicted to grow at a 4.66% CAGR over the forecast period (2018-2023), reveals the latest Market Research Future (MRFR) report.
The thermal paper simply put, is a paper with specialty coating, which allows inkless printing. As heat is applied through a thermal paper printer to the coating, it results in a clear, sharp image, without any ribbons or ink. This technology is used in different sectors. Printing on these papers offer reliable, speedy, and high-definition images.
Leading players profiled in the thermal paper market report include Hansol Paper Co., Ltd (South Korea), Jujo Thermal Ltd. (Finland), Ricoh Company Ltd (Japan), Koehler Paper Group (Germany), Mitsubishi Paper Mills Ltd. (Japan), Nakagawa Manufacturing, Inc., Oji Paper Ltd. (Thailand), and Appvion, Inc. (US).
Thermal paper supports various formats of printing. The images printed on thermal paper do not smudge or fade over time and also lasts for long. Thermal paper is widely used in thermal printing, a highly economical printing technology due to its low maintenance cost and low energy consumption. It has huge application including office consumables, laboratory apparatus, credit or debit card terminals, lottery machines, movie tickets, gaming equipment, ATM, and more.
Various factors are pushing the growth of the thermal paper market. These factors, in accordance to the Market Research Future (MRFR) report, include advancements in thermal transfer technology, increasing demand for certification labels (laboratory specimens and cold storage products) and asset tagging, and growth of the manufacturing industry in emerging economies. Additional factors pushing the market growth include increasing urbanization, favorable government initiatives, changing consumer preferences, increasing disposable income, and growth in the gaming industry.
On the contrary, fluctuating price and supply of raw materials, lack of skilled labor, and a substantial increase in mobile or online POS are factors that may restrict the thermal paper market growth over the forecast period.
May 2019: Avery Dennison label and packaging material has introduced AT2550 adhesive technology This fully recyclable adhesive technology will be an ideal solution for thermal paper labeling.
The Market Research Future report offers a wide segmental analysis of the Thermal Paper Market based on technology and application.
Based on technology, the thermal paper market is segmented into direct thermal, thermal transfer, and others. Of these, the direct thermal segment will have the largest share in the market over the forecast period owing to its wide use at POS and ATMs.
Based on application, the thermal paper market is segmented into labels and tags, POS, lottery and gaming, and others. Of these, the POS segment will dominate the market over the forecast period. POS thermal paper offers smudge-free, clear printing of receipts.
Based on the region, the thermal paper market report covers growth opportunities and the latest trends across the Asia Pacific, North America, Europe, and Rest of the World. Of these, North America will spearhead the market over the forecast period. This is owing to increased demand from POS application, especially from Canada and the US. POS applications need thermal paper for bills, acknowledgments, and receipts. The US is the key contributor here as it houses the biggest international retail chains (Amazon and Walmart).
The thermal paper market in Europe will have the second largest share in the market over the forecast period. This is owing to increasing sales of the retail industry, both from online and brick and mortar stores. Germany, UK, and the Netherlands are the key contributors here.
The thermal paper market in the APAC region is predicted to grow at the highest CAGR over the forecast period. This region is one of the fastest growing in terms of sales both from online and retail stores. With changing consumer preferences and increasing disposable income, there has been an inclination to purchase from online stores, particularly international stores such as Amazon. China is the key contributor here owing to the growing demand for consumer goods coupled with increasing population.